According to Zacks, “RPT Realty operates like a real estate investment trust. The company owns, develops, acquires, manages and leases regional shopping centers, community shopping centers and single tenant properties. RPT Realty, formerly known as Ramco-Gershenson Properties Trust, is based in New York, United States. “
Several other brokerages have also weighed on RPT recently. Deutsche Bank Aktiengesellschaft raised its price target on RPT Realty from $ 13.00 to $ 17.00 and gave the stock a “buy” rating in a report released on Tuesday, June 8. TheStreet downgraded RPT Realty from a “d +” rating to a “c” rating in a report released on Thursday, May 6th. Finally, KeyCorp increased its price target on RPT Realty from $ 13.00 to $ 15.00 and rated the stock “overweight” in a report released on Wednesday, May 19. Four investment analysts gave the stock a conservation rating and three gave the company a buy rating. Based on MarketBeat data, RPT Realty has an average rating of “Hold” and an average price target of $ 13.00.
RPT Realty shares opened at $ 12.94 on Wednesday. The stock has a 50-day moving average of $ 12.76 and a 200-day moving average of $ 12.43. RPT Realty has a 12 month minimum of $ 4.79 and a 12 month maximum of $ 14.00. The company has a market cap of $ 1.05 billion, a PE ratio of 28.13, a PEG ratio of 1.79 and a beta of 1.65. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt ratio of 1.18.
RPT Realty (NYSE: RPT) last reported its quarterly results on Wednesday, August 4. The real estate investment trust reported EPS of $ 0.41 for the quarter, beating analysts’ consensus estimates of $ 0.21 by $ 0.20. The company posted revenue of $ 52.22 million in the quarter, compared to analysts’ estimates of $ 50.91 million. RPT Realty had a return on equity of 6.28% and a net margin of 23.21%. The company’s revenue increased 17.0% year-on-year. During the same period of the previous year, the company made a profit of $ 0.16 per share. As a group, equity research analysts predict that RPT Realty will post earnings per share of 0.89 for the current fiscal year.
In other news from RPT Realty, VP Timothy Collier sold 3,356 shares of RPT Realty in a transaction dated Monday, June 21. The stock was sold for an average price of $ 12.95, for a total trade of $ 43,460.20. After the sale closes, the vice president now owns 70,499 shares of the company, valued at approximately $ 912,962.05. The sale was disclosed in a legal file with the SEC, which can be accessed via this hyperlink. In addition, CAO Raymond J. Merk sold 2,460 shares of RPT Realty in a transaction dated Monday, June 21. The stock was sold for an average price of $ 12.90, for a total value of $ 31,734.00. As a result of the sale, the chief accounting officer now directly owns 33,621 shares of the company, valued at approximately $ 433,710.90. Disclosure of this sale can be found here. Insiders sold a total of 11,791 shares of the company valued at $ 154,331 during the last quarter. Company insiders own 1.60% of the company’s shares.
A number of institutional investors and hedge funds have recently changed their holdings in the company. Morgan Stanley raised its holdings of RPT Realty shares by 1,002.0% in the 1st quarter. Morgan Stanley now owns 3,051,618 real estate investment trust shares valued at $ 34,819,000 after purchasing an additional 2,774,703 shares during the period. Millennium Management LLC increased its equity stake in RPT Realty by 176.9% in the 2nd quarter. Millennium Management LLC now owns 1,246,105 real estate investment trust shares valued at $ 16,174,000 after purchasing an additional 796,018 shares during the period. Nuveen Asset Management LLC increased its equity stake in RPT Realty by 103.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,081,086 real estate investment trust shares valued at $ 14,032,000 after purchasing an additional 550,455 shares during the period. BlackRock Inc. increased its holdings of RPT Realty shares by 3.6% in the 1st quarter. BlackRock Inc. now owns 15,393,336 REIT shares valued at $ 175,638,000 after purchasing an additional 535,709 shares during the period. Finally, Goldman Sachs Group Inc. increased its equity stake in RPT Realty by 222.5% in the second quarter. Goldman Sachs Group Inc. now owns 689,401 REIT shares valued at $ 8,949,000 after purchasing an additional 475,619 shares during the period. 69.71% of the shares are held by institutional investors.
About RPT Realty
RPT Realty operates like a real estate investment trust. The company develops, manages and leases commercial properties. Its portfolio includes shopping centers, supermarkets and retail stores. The company was founded on May 1, 1996 and is headquartered in New York, NY.
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